348 Georgia Ave · Lorain, OH 44052

$124,900

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 14 Days on market

Built 1910 4,356 sqft lot Est $130k · at est.

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.8/30.0
• ARV discount +9.4/15.0
• DSCR +7.3/10.0
• 1% rule +4.6/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming 3-bedroom, 1-bath Colonial situated on a quiet corner lot in Lorain. This home offers generous living space, including a large living room, formal dining room, and kitchen, providing plenty of room for everyday living and entertaining. Enjoy relaxing mornings and evenings on the inviting front porch. The full unfinished basement offers additional storage and features a dedicated laundry area. All appliances will remain with the home, including the range, refrigerator, dishwasher, washer, dryer, and a bonus refrigerator located in the basement. Outside, you'll find a detached 1-car garage and a nicely positioned corner lot with added yard space. While the home d

Key facts

• Front porch
• Corner lot
• Detached garage

Tags

• CORNER LOT
• FRONT PORCH
• FULL UNFINISHED BASEMENT
• DEDICATED LAUNDRY AREA
• DETACHED GARAGE
• WIRED FOR A/C

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (3.5% below list).
• Recommended offer: $121k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 8.4% vs local median 5.7% in Lorain — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#595 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities D, health & safety D, crime F.
• Lorain City (suburban): math 13% / reading 26% proficiency, ranked #633 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hawthorne Elementary School (math 12% / reading 32%, grade F, #1,242 of 1,584 statewide, top 80%, 251 students, 0% FRL); Longfellow Middle School (math 9% / reading 23%, grade F, #624 of 654 statewide, top 96%, 390 students, 0% FRL); Lorain High School (math 17% / reading 34%, grade F, #638 of 781 statewide, top 82%, 1,722 students, 0% FRL) — zoned schools average 0% FRL vs 80% district-wide (80 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 135 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 32% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,504 (3.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 8.38%
• Cash-on-cash: 7.45%
• DSCR: 1.33
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $130,416
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228 Florida Ave	0.14mi	3/1.0	1,120 (-2%)	4mo	$71,500	$64	87
223 Georgia Ave	0.14mi	3/1.0	1,175 (+3%)	6mo	$75,000	$64	84
925 E St	0.04mi	3/1.0	1,233 (+8%)	5mo	$115,000	$93	81
207 Georgia Ave	0.17mi	3/1.0	1,232 (+8%)	6mo	$79,000	$64	74
213 Idaho Ave	0.19mi	2/1.0 (-1)	1,160 (+1%)	13mo	$140,000	$121	73
306 Florida Ave	0.10mi	2/2.0 (-1)	1,063 (-7%)	9mo	$80,000	$75	67
313 Kansas Ave	0.37mi	2/1.0 (-1)	1,176 (+3%)	8mo	$135,000	$115	66
339 Colorado Ave	0.24mi	4/1.5 (+1)	1,264 (+10%)	1mo	$80,000	$63	63
1413 F St	0.39mi	2/1.0 (-1)	1,075 (-6%)	5mo	$129,000	$120	63
1336 E Erie Ave	0.36mi	3/1.5	1,258 (+10%)	8mo	$245,000	$195	58
1330 Maryland Ave	0.55mi	3/1.0	1,220 (+7%)	7mo	$150,000	$123	58
1519 Maine Ave	0.54mi	2/1.5 (-1)	1,008 (-12%)	7mo	$115,000	$114	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.09% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-5,128
• Equity at exit: $18,623

10-year hold

• IRR: 6.8%
• Equity multiple: 1.53×
• Total profit: $18,709
• Equity at exit: $10,799

Cash invested: $34,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 44052

• Home prices YoY: -28.1%
• Rents YoY: 4.1%
• Active inventory: 135
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,205 high
• Mortgage (P&I): −$655
• Tax from tax record: −$28 /mo · $333/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $217

Break-even live

Break-even rent $930

Max offer price $124,900

Occupancy floor 77%

Sensitivity live

Price	-10% $288	-5% $253	+0% $217	+5% $182	+10% $147
Rent	-10% $122	-5% $170	+0% $217	+5% $265	+10% $312
Rate	-1.0pp $280	-0.5pp $249	base $217	+0.5pp $185	+1.0pp $152

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
810 E Erie Ave #4 Lorain, OH	2.0	1.0	1200	$895	$0.75	45d	1	0.19mi
860 Colorado Ave Lorain, OH	2.0	1.0	825	$1,225	$1.48	45d	1	0.32mi
1508 Fillmore Ave Unit 1510 Fillmore Ave: Left Unit Lorain, OH	3.0	1.0	896	$900	$1.00	9d	1	0.60mi
1510 Fillmore Ave Lorain, OH	3.0	1.0	896	$900	$1.00	9d	1	0.60mi
2327 S Jefferson Blvd Lorain, OH	3.0	1.0	1485	$1,531	$1.03	22d	1	0.91mi
1028 W 5th St Lorain, OH	3.0	2.0	1250	$1,650	$1.32	45d	1	0.98mi
420 W 12th St Lorain, OH	3.0	1.0	1204	$1,650	$1.37	5d	1	0.99mi
521 W 14th St Lorain, OH	3.0	1.0	968	$950	$0.98	45d	1	1.11mi
1031 W 9th St Lorain, OH	2.0	1.0	854	$895	$1.05	25d	1	1.12mi
1053 Washington Ave Unit 4 Lorain, OH	3.0	1.0	1000	$899	$0.90	45d	1	1.13mi
1724 Lexington Ave Lorain, OH	3.0	1.0	1150	$1,215	$1.06	25d	1	1.17mi
1220 W Erie Ave Lorain, OH	2.0	2.0	1458	$1,050	$0.72	3d	1	1.18mi
1703 Oakdale Ave Lorain, OH	3.0	1.0	1237	$1,300	$1.05	4d	1	1.20mi
1421 Long Ave Lorain, OH	2.0	1.0	719	$1,140	$1.59	45d	1	1.21mi
1223 W 5th St Lorain, OH	3.0	2.0	1152	$1,150	$1.00	14d	1	1.22mi
1239 W 5th St Unit 1 Lorain, OH	3.0	1.0	1200	$1,100	$0.92	25d	1	1.26mi
1055 W 12th St Lorain, OH	4.0	1.0	1206	$1,750	$1.45	25d	1	1.29mi
1630 Euclid Ave Lorain, OH	3.0	1.0	900	$1,100	$1.22	45d	1	1.34mi
1109 Euclid Ave Lorain, OH	3.0	1.0	1066	$995	$0.93	3d	1	1.34mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	45d	1	1.39mi
128 W 22nd St Lorain, OH	3.0	1.0	1402	$1,470	$1.05	45d	1	1.42mi
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	25d	1	1.48mi

Listing history 10 events

1. 2026-06-17
   status $124,900 Pending 14 DOM
2. 2026-06-16
   days on market $124,900 Active 14 DOM
3. 2026-06-15
   pricedays on market $124,900 Active 13 DOM
4. 2026-06-13
   days on market $145,000 Active 11 DOM
5. 2026-06-13
   days on market $145,000 Active 10 DOM
6. 2026-06-09
   days on market $145,000 Active 7 DOM
7. 2026-06-08
   days on market $145,000 Active 6 DOM
8. 2026-06-07
   days on market $145,000 Active 5 DOM
9. 2026-06-02
   remarks 699-char remark
10. 2026-06-02
    listed $145,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $333 · $28/mo
• Projected year-2 tax: $1,140 · $95/mo
• Expected delta: +$808/yr (+$67/mo · 243.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,460
• − Mortgage interest: −$6,996
• − Property taxes: −$333
• − Insurance: −$624
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$3,633
• Taxable income: $560
• Est. tax owed @ 24.0%: −$134
• After-tax cash flow: $2,472/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lorain City
• NCES district ID: 3904426
• Math proficiency: 13% ▼ -24.00%
• Reading proficiency: 26% ▼ -10.00%
• Median HH income: $32,823
• Composite: 15.81/100
• National rank: #9266
• State rank: #633 of 656 in OH

Livability — Lorain

• Score: 67/100
• State rank: #595
• US rank: #10183

Category grades

Amenities D Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety D User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lorain, OH
• County: Lorain County · 219,437 people
• City population: 69,409
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 28,282
• Household income: $45,023
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 1423.0

Population outlook (Lorain County) Hauer SSP2

• Today (2025): 314,924 people
• By 2030: 317,546 · +0.8%
• By 2040: 317,962 · +1.0%
• By 2050: 312,872 · -0.7%
• By 2075: 301,806 · -4.2%
• By 2100: 278,271 · -11.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 49% Hispanic / Latino 24% Black 21% Two or more races 16%
• Hispanic origin (detail): Mexican 5% Puerto Rican 17%
• Common ancestry: Romanian 6% Lithuanian 1% Iranian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14%

Political lean MEDSL · Lorain

• 2024 margin: Lean R (+5.7) · D 46.7% · R 52.4%
• 2008→2024 swing: -23.6pp toward R · 2008: 17.9pp · 2024: -5.7pp
• All cycles: 2024: R+5.7 2020: R+2.5 2016: R+0.3 2012: D+14.4 2008: D+17.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.23%
• Current HPI: 186.9657
• Rent YoY: ▲ 4.09%
• Metro: Cleveland-Elyria, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

1 event — show timeline

• 2026-06-01 Listed $145,000 MLSNOW

Property tax history

+1.6%/yr

Latest (2025): $333 · -59.1% YoY. Source: county tax records.